PwC counts profit and loss on failure of Lehman Bros

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It’s nice work if you can get it. Having spent the past four and a half years
sifting through the books of the European division of Lehman Brothers, PwC’s
administrators have paid themselves £652 million.

In the second half of last year, the 200 full-time PwC staff working on what
will be, if it isn’t already, the world’s biggest and most expensive
administration, clocked up 220,000 man hours and almost £73 million in fees.

The average hourly rate is £332 for each PwC employee, but for partners this
works out at more than double at £743, according to the latest

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